Live Nation Entertainment (NYSE:LYV) Price Target Raised to $215.00

by · The Cerbat Gem

Live Nation Entertainment (NYSE:LYV – Free Report) had its price objective lifted by Oppenheimer from $210.00 to $215.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on LYV. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Weiss Ratings downgraded shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. BTIG Research reiterated a “buy” rating and set a $215.00 target price on shares of Live Nation Entertainment in a research note on Monday, October 19th. Citigroup reissued a “market outperform” rating on shares of Live Nation Entertainment in a report on Thursday, October 1st. Finally, Citizens Jmp raised their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.14.

Check Out Our Latest Stock Report on Live Nation Entertainment

Live Nation Entertainment Trading Up 0.0%

LYV opened at $180.19 on Tuesday. Live Nation Entertainment has a one year low of $125.34 and a one year high of $189.24. The company has a debt-to-equity ratio of 6.64, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $172.79 and a two-hundred day simple moving average of $168.12. The firm has a market capitalization of $42.47 billion, a price-to-earnings ratio of -1,059.95 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Live Nation Entertainment had a net margin of 0.38% and a return on equity of 55.62%. The firm had revenue of $10.11 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Analysts predict that Live Nation Entertainment will post 1.06 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several hedge funds have recently made changes to their positions in LYV. Burkett Financial Services LLC bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $26,000. Kilter Group LLC bought a new stake in Live Nation Entertainment in the second quarter worth $27,000. Meeder Asset Management Inc. purchased a new position in Live Nation Entertainment during the second quarter worth $27,000. Transamerica Financial Advisors LLC bought a new position in Live Nation Entertainment during the 2nd quarter valued at about $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Live Nation Entertainment in the 2nd quarter worth about $32,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

(Get Free Report)

Live Nation Entertainment, Inc. is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events. The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

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